THe Agrium SHORT

Just an update here, and I'll still insist for anyone looking to short this market, AGU works, and will continue to work. We are getting very very close to the point where the move down will quickly accelerate, and that level is about $90.25-90.50. A daily close below there on strong volume, and that confirms that this move I've been warning of down to around $70/71 is absolutely for real and imminent. So even though AGU is down a pretty quick $8 since its 52 week high last monday above 99, I'm telling you guys, its not even halfway done this move yet. Watch how it responds to this 90-90.50 range, which not only is a multimonth trend line but also the 50 DMA. Lets see if we can forcefully break through it to the downside, and the next stop is gonna be the 200 DMA and my target of the $70 area. I'd be very very surprised if we close below 90 today, probably see a bounce and the brevity and intensity of that bounce will determine what I do from here. In any case, I'll add to positions in long puts on any significant strength, and I am NOT closing any short positions here....too close to a significant breakdown to take profits just yet. And again, I suggest options for anyone looking to trade AGU short, not shares, although I do have both trades on right now. Take that as a sign of my confidence in the trade as opposed to a suggestion that shorting $91 stocks is the play I just prefer to have a lot of capital in trades where I like the risk reward and have a high degree of confidence. The only trade I'll look to make here today is to hedge some risk by adding long calls if we start to bounce significantly. Probably would look to the april $100 call for that trade. GL to all.

Daytraded options on POT today, easy double off the top. Those AG's DO smell

Just an update here, and I'll still insist for anyone looking to short this market, AGU works, and will continue to work. We are getting very very close to the point where the move down will quickly accelerate, and that level is about $90.25-90.50. A daily close below there on strong volume, and that confirms that this move I've been warning of down to around $70/71 is absolutely for real and imminent. So even though AGU is down a pretty quick $8 since its 52 week high last monday above 99, I'm telling you guys, its not even halfway done this move yet. Watch how it responds to this 90-90.50 range, which not only is a multimonth trend line but also the 50 DMA. Lets see if we can forcefully break through it to the downside, and the next stop is gonna be the 200 DMA and my target of the $70 area. I'd be very very surprised if we close below 90 today, probably see a bounce and the brevity and intensity of that bounce will determine what I do from here. In any case, I'll add to positions in long puts on any significant strength, and I am NOT closing any short positions here....too close to a significant breakdown to take profits just yet. And again, I suggest options for anyone looking to trade AGU short, not shares, although I do have both trades on right now. Take that as a sign of my confidence in the trade as opposed to a suggestion that shorting $91 stocks is the play I just prefer to have a lot of capital in trades where I like the risk reward and have a high degree of confidence. The only trade I'll look to make here today is to hedge some risk by adding long calls if we start to bounce significantly. Probably would look to the april $100 call for that trade.

GL to all.

Strong stocks in a strong sector. Hope you are playing defense.

http://stockcharts.c...8313&r=4762.png